More optimism in Nitrogen market
By Roger Chesher
THE early buyers nitrogen market is undoubtedly very active at present, more so than has been experienced for many months.
This has injected a little optimism into the marketplace and encouraged liquid nitrogen buyers to request prices to fill their tanks in anticipation of a higher spring price to come.
Tank fill will be around 120/t cash for 37%N on a W/V basis.
It is still perhaps a week or so too early for a September price for solid ammonium nitrate to be published.
Assuming the majors wish to go into October with a 4/t hike, which is logical, it would seem sensible to split this, 2/t in September, 2/t in October.
PK prices, indeed all prices, are unchanged at present. The PK market is still rather slow, with some pundits questioning if farmers are tempted to have a PK holiday for a second year.
Agronomically this would not be a good idea and the most likely explanation would be another just in time spot market.
Agronomy is playing a significant part in the storage market, as interest in Sulphur is very strong.
Selenium is also creating interest in specialist livestock grazing areas. The mid-season grass market is slowing and new prices are anticipated in October.
New-season nitrogen (SP5) 34.5% | September domestic nitrogen | Imported urea (if available) | Imported AN |
Blended 20.10.10 and 25.0.16 | Blended 25.5.5 | Liquid nitrogen, 37kg/100l or 29.6% N/t |
August 110-112 | 112-114 | Granular 115-120 | 88 ex-dock 94-98 delivered |
113-115 | 107-113 | 120 |
NPK | August, pay cash | NS products |
Complex 25.5.5 | 112-118 | 110-112 |
15.15.20 | No market | |
20.10.10/29.5.5 | 118-120 | |
17.17.17 | No market |
After-cut NK cash | 0.24.24 | TSP (47% P2O5) bagged | Muriate of Potash (60% K2O) bagged |
118 | 110-114 | 125 | 122 |
IRELAND CAN 24.6.12 0.16.36 Complex compounds
Forecast prices
Urea
27.6.6
Northern Ireland
No market
110
130-135
No market
130
CAN | 24.21/2.10 | Urea, imported | 27.21/2.5 | |
Republic of Ireland* | 140-145 | 175 | No market | 170-175 |
*Note in the Republic of Ireland nutrients are expressed as elements not oxides. Analyses will not be directly comparable with those used in the UK.
*Prices in the Republic are IR
Note All illustrated prices are based on 24-tonne loads for immediate payment. Prices for smaller loads and those with credit terms will vary considerably.
Source: Bridgewater Partnership